Hot Drinks - Philippines
Philippines- Revenue, at home (e.g., revenue generated in supermarkets and convenience stores) in the Hot Drinks market amounts to US$****bn in ****.
- Revenue, out-of-home (e.g., revenue generated in restaurants and bars) amounts to US$****bn in ****.
- Revenue, combined amounts to US$****bn in ****.
- The revenue, at home is expected to grow annually by ****% (CAGR *********).
- In global comparison, most revenue, at home is generated China (US$**bn in ****).
- In relation to total population figures, the average revenue per capita, at home of US$***** are generated in ****.
- In the Hot Drinks market, volume, at home is expected to amount to ******m kg by ****.
- Volume, out-of-home is expected to amount to *****m kg in ****.
- Volume, combined is expected to amount to ******m kg in ****.
- The Hot Drinks market is expected to show a volume growth, at home of ***% in ****.
- The average volume per person, at home in the Hot Drinks market is expected to amount to ****kg in ****.
Definition:
The Hot Drinks market includes the Coffee, Tea, and Cocoa market. In the Hot Drinks market, products in dry form (such as powders, beans, and leaves) are covered. The drink is prepared by adding liquids, such as hot water or milk, to the product. Ready-to-Drink (RTD) Coffee and Tea products in liquid form are in the corresponding segment in the Non-Alcoholic Drinks market.
Structure:
The Hot Drinks market is divided into the Coffee market, the Tea market, and the Cocoa market.
- The Coffee market consists of Roast Coffee in the form of ground coffee and whole beans, that is prepared with coffee machines or a French press, as well as Instant Coffee that only requires the addition of hot water.
- The Tea market consists of black tea, green tea, and mate sold in tea bags or as loose-leaf tea.
- The Cocoa market contains powder and powder-mixes for the preparation of cocoa drinks or hot chocolate.
Additional information:
The market comprises revenue and average revenue per capita, volume and average volume per capita, price per kilogram , as well as sales channels. Per capita figures refer to a country’s or region’s whole population.
At-home market data covers retail sales via super- and hypermarkets, eCommerce, convenience stores, and similar sales channels. Out-of-home market data includes all sales in hotels and restaurants, sales by catering companies, as well as sales in cafés, bars, and similar hospitality service establishments. In the out-of-home market, the price always refers to the price per kilogram of the beverage consumed, regardless of other components in the finished beverage. Combined numbers encompass both the at-home market and the out-of-home market. All prices are valued at retail selling prices, including all sales and consumption taxes.
Key players include Nestlé (e.g., Nescafé and Nespresso), Tchibo, Starbucks, Lavazza, and Tata Global Beverages (Tetley).- Roast Coffee, such as Peet's Coffee
- Instant Coffee, such as Nescafé Gold
- Tea, such as Republic of Tea Black Tea
- Cocoa, such as Nesquik
- RTDs derived from Coffee, Tea or Cocoa (e.g., Lipton Ice Tea)
Revenue
Volume
KeyPlayers
Price
Sales Channels
Global Comparison
Analyst Opinion
Customer preferences: Filipinos have a strong cultural affinity for hot drinks, with coffee and tea being the most popular choices. Coffee is deeply ingrained in the Philippine culture, with coffee shops and cafes being a common sight in cities and towns across the country. The younger generation, in particular, has developed a taste for specialty coffee and is willing to pay a premium for high-quality beans and unique brewing methods. On the other hand, tea consumption is also on the rise, driven by the growing interest in health and wellness. Herbal teas and green teas are especially popular among health-conscious consumers.
Trends in the market: One of the key trends in the Hot Drinks market in Philippines is the growing demand for premium and specialty products. Consumers are increasingly seeking out unique and high-quality hot drinks, such as single-origin coffee beans and artisanal teas. This trend is driven by a combination of factors, including the rising disposable income and the influence of Western coffee culture. Coffee shops and specialty tea stores are capitalizing on this trend by offering a wide range of premium products and creating a unique experience for their customers. Another trend in the market is the increasing popularity of ready-to-drink hot beverages. With the fast-paced lifestyle of urban dwellers, there is a growing demand for convenient and on-the-go hot drinks. This has led to the introduction of a variety of ready-to-drink coffee and tea products in the market. These products are not only convenient but also cater to the changing taste preferences of consumers. For example, there is a growing demand for cold brew coffee and iced tea, especially during the hot summer months.
Local special circumstances: The Hot Drinks market in Philippines is also influenced by local cultural practices and traditions. For example, the Philippines is known for its strong coffee tradition, with the "kapeng barako" or local brewed coffee being a popular choice among Filipinos. In addition, the country has a strong tea culture, with herbal teas and tisanes being commonly consumed for their health benefits. These local preferences and traditions contribute to the diverse range of hot drinks available in the market.
Underlying macroeconomic factors: The growth of the Hot Drinks market in Philippines can be attributed to several underlying macroeconomic factors. Firstly, the country's strong economic growth has resulted in a rising middle class with higher disposable incomes. This has led to increased spending on premium and specialty hot drinks. Secondly, the growing urbanization in the country has created a demand for convenient and on-the-go products, driving the growth of ready-to-drink hot beverages. Lastly, the influence of Western coffee culture and the increasing health consciousness among consumers have also contributed to the growth of the Hot Drinks market in Philippines.
Methodology
Data coverage:
The data encompasses B2C enterprises. Figures are based on private Household spendings on Hot Drinks. At-home market data covers retail sales via super- and hypermarkets, eCommerce, convenience stores, and similar sales channels. Out-of-home market data includes all sales in hotels and restaurants, sales by catering companies, as well as sales in cafés, bars, and similar hospitality service establishments.
In the out-of-home market, the price always refers to the price per kilogram of the beverage consumed, regardless of other components in the finished beverage.
Modeling approach:
Market sizes are determined through a Top-Down approach, building on specific predefined factors for each market segment. As a basis for evaluating markets, we use resources from the Statista platform as well as in-house market research, national statistical offices, international institutions, trade associations, companies, the trade press, and the experience of our analysts. In addition, we use relevant key market indicators and data from country-specific associations, such as production data, region, and price level index. This data helps us estimate the market size for each country individually.
Forecasts:
In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the exponential trend smoothing is well suited for forecasting the Hot Drinks market with a projected steady growth.
Additional notes:
The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level.
Get in touch with us for additional information
Feel free to contact us anytime. We will respond to your inquiry as quickly as possible.